ElectraWatch, which boasts the US Navy as its biggest client, will be acquired by Austal for US$6.75 million. ElectraWatch has developed and deployed a unique portable system for the nondestructive testing of aluminium used in demanding environments and in this case, predominantly for aluminium ships.
The US Navy is the primary customer for the technology, with the system forming part of a monitoring environment for a variety of vessels.
The acquisition is a win for Austal which is the largest manufacturer of aluminium ships for defence and commercial sectors in the world.
Austal CEO David Singleton said the acquisition is in line with company's plans to embrace advanced technology.
"The acquisition reflects Austal’s commitment to having the most advanced technology utilised in every element of our shipbuilding enterprise. Combining ElectraWatch’s patented technology with Austal’s advanced ship design, manufacturing and sustainment expertise will reinforce the company’s position as the industry leader in advanced aluminium shipbuilding," Singleton said.
"In particular this acquisition will effectively support and increase our range of services for the shipbuilding and sustainment requirements of our key customer, the United States Navy."
ElectraWatch, which is based in Virginia, is expected to have a CY18 revenue of US$2-3 million.